Mercury Biomed Awarded $1.5M Phase II NIH Grant

Mercury Biomed, a company developing a novel approach to managing core body temperature, was awarded a $1.5 million non-dilutive Phase II Small Business Technology Transfer (STTR) grant through the National Institute of General Medical Sciences (NIGMS). The award (2 R42 GM119871-02) will enable Mercury to continue along the path toward commercialization of its first device, WarmSmart, a disruptivesolution for warming patients in the peri-operative environment.

Based on successful achievement of Phase I milestones, including development of commercial-grade prototypes of the device and demonstration of the clinical effectiveness of Mercury’s Selective Thermal Stimulation approach, the National Institutes of Health (NIH) awarded these additional funds to continue the development of Mercury’s novel technology.

Fifty-three million patients undergo general anesthesia each year, risking life-threatening complications due to rapid reduction of core body temperature in the operating room. WarmSmart, in contrast to alternative methods, works in-concert with the body’s intrinsic thermoregulatory function to noninvasively warm the body core. The global market for patient temperature management solutions is $2.5 billion per year.

“Mercury is deeply appreciative of the continued support provided by the NIH and NIGMS through this STTR program,” said Brad Pulver, CEO of Mercury Biomed. “Warming patients during surgery has become standard of care, and we believe Mercury’s vastly different approach will lead to a smarter and safer way to maintain normothermia in the OR. We’re thrilled to have been awarded these additional funds to get WarmSmart to market.”

The technology originates from research conducted at The University of Texas at Austin under the direction of Professor Ken Diller, Inventor and Mercury’s Chief Science Officer. While continued development work is performed in Austin, WarmSmart will continue to be tested in the OR under the clinical direction and oversight of doctors Daniel Sessler, Andrea Kurz, Kurt Ruetzler and Mehmet Turan at the Cleveland Clinic.

Dr. Sessler, Anesthesiologist and Chair of Cleveland Clinic’s Department of Outcomes Research and the Principle Investigator on this Phase II award commented, “The STTR program is highly competitive and we are delighted that NIH will support our trial. Keeping surgical patients warm is critically important and sometimes very challenging. We therefore look forward to testing this new warming method.”

This Phase II award will provide the funds necessary to conduct Phase II clinical trials at the Cleveland Clinic and achieve FDA clearance. The grant is Mercury’s third major non-dilutive funding victory. It was previously funded by the Ohio Third Frontier initiative and Phase I of the NIH STTR program, placing Mercury in rare company as a winner of all three awards.